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Firm growth: Adjustment and fluctuations

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  • Peisa, Paavo

Abstract

Firm growth is analysed using panel data for a sample of Finnish firms over the period 1978 - 1985. The paper focuses on the relationship between firm characteristics and growth, paying attention to both latent and measured characteristics. Estimation results indicate that small firms grew significantly faster than large firms during the sample period. Small businesses expanded during the first years of the sample period, whereas later on there were no differences in performance between different size groups.

Suggested Citation

  • Peisa, Paavo, 1988. "Firm growth: Adjustment and fluctuations," Bank of Finland Research Discussion Papers 26/1988, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp1988_026
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    1. Evans, David S, 1987. "Tests of Alternative Theories of Firm Growth," Journal of Political Economy, University of Chicago Press, vol. 95(4), pages 657-674, August.
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    3. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-670, May.
    4. Robert E. Lucas Jr., 1978. "On the Size Distribution of Business Firms," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 508-523, Autumn.
    5. Robert E. Lucas & Jr., 1967. "Adjustment Costs and the Theory of Supply," Journal of Political Economy, University of Chicago Press, vol. 75(4), pages 321-321.
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